New York (USA), May 17, 2023 (GLOBE NEWSWIRE) — Ammonia Market Overview
According to a comprehensive research report by Market Research Future (MRFR), “Ammonia market Information by Form, Sales Channel, Application and Region: Forecast to 2030“, Ammonia market could thrive at a rate of 6.64% between 2021 and 2030. The market size will reach $114.5 billion by the end of 2030.
Market overview
Ammonia is a colorless, pungent-smelling gas with the chemical formula NH3. It is produced through the Haber-Bosch process, which involves the reaction of nitrogen and hydrogen gases at high pressure and temperature. Ammonia is widely used in various industrial applications, including fertilizers, chemicals, pharmaceuticals, refrigeration, and cleaning agents.
The main application of ammonia is in the production of fertilizers, especially in the form of urea, ammonium nitrate and ammonium phosphate. It is also used as a refrigerant in industrial refrigeration systems and air conditioning units, as a cleaning agent in the food and beverage industry, and as a raw material in the production of various chemicals.
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Competitive landscape of the market:
Wealthy companies in the ammonia industry include
- children
- CF Industries Holdings Inc
- Nutrien Ltd
- Group DF
- OCI NV
- EuroChem Group
- WISE
- Acron
- Orica Limited
- JSC Uralchem
- AB “Achema”
- Togliatti
- Indian Farmers Fertilizer Cooperative Limited
- Qatar Fertilizer Company
- Koch Fertilizer
Scope of the report:
| Report attribute | Details |
| 2030 market size | 114.5 billion dollars |
| Compound Annual Growth Rate (CAGR) | 6.64% (2022-2030) |
| base year | 2021 |
| Market forecast period | 2022-2030 |
| Historical data | 2018 and 2020 |
| Forecast units | Value (millions of dollars) |
| Coverage of the report | Revenue forecast, competitive landscape, growth factors and trends |
| Segments covered | By type, application and region |
| Geographies covered | North America, Europe, Asia-Pacific and Rest of the World (RoW) |
| Key market dynamics | Growth of the agricultural industry Increasing applications in cooling systems and the mining industry |
View the in-depth market research report ( Pages 282 ) Ammonia
https://www.marketresearchfuture.com/reports/ammonia-market-2405
March 2021
Yara International ASA announced its plan to produce green ammonia at its Pilbara plant in Western Australia. The project aims to produce renewable hydrogen from solar energy and then convert it into green ammonia, which can be used as a carbon-free fuel for the shipping industry. This development reflects the growing focus on sustainable production methods and the use of ammonia as an alternative fuel source.
USP Market Covered:
Market Drivers:
The ammonia market has been growing significantly over the years, and this growth is mainly due to several market factors. One of the key drivers for the ammonia market is the growing demand for ammonia as a fertilizer. Ammonia is a key ingredient in the production of nitrogen-based fertilizers, which are essential for crop growth and yield. Rising population, increasing demand for food, and rising disposable income in emerging economies such as India and China are fueling the demand for ammonia-based fertilizers in these regions.
Another factor driving the growth of the ammonia market is the increasing use of ammonia in the healthcare and chemical industries. Ammonia is used in a wide range of applications in these industries, including as a refrigerant, cleaning agent and precursor for the production of various chemicals. In addition, the focus on sustainable production methods is also driving the growth of the ammonia market, with companies investing in new technologies to reduce their environmental impact and increase their efficiency.
Market limitations:
The ammonia market is facing several challenges and one of the important factors limiting the growth of the market is the volatility of raw material prices. Ammonia production requires natural gas as a key input, and natural gas prices are prone to fluctuations due to various factors such as supply and demand, geopolitics and weather conditions. Volatility in natural gas prices can create uncertainty in the cost of ammonia production, affecting manufacturers’ profitability.
Analysis of COVID 19
The COVID-19 pandemic has caused significant disruption to the ammonia market. The pandemic has led to a decrease in global demand for ammonia due to the slowdown in economic activities and the temporary shutdown of various end-use industries. In addition, the pandemic has caused significant supply chain disruptions, including transportation issues and production shutdowns, leading to shortages of raw materials and hampering production.
However, the Ammonia Market is expected to recover in the post-COVID scenario, with the resumption of industrial activities and growing demand for fertilizers, especially in emerging economies. The use of ammonia as a refrigerant in the healthcare industry has also increased due to its efficiency and cost-effectiveness, which are expected to drive the market growth. Increasing demand for ammonia-based chemicals and pharmaceuticals, including pesticides, explosives, and cleaning agents, is also expected to drive market growth.
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Market segmentation
By Form
The market form includes liquid, powder and gas.
By sales channel
The market sales channel includes direct and distribution.
By Application
The market application includes fertilizers, chemicals, refrigeration, fibers and plastics, pharmaceuticals, pulp and paper and others.
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Regional knowledge
North America, Europe and Asia Pacific are the three major regions of the ammonia market. Asia Pacific is expected to witness the highest growth rate, driven by growing demand for fertilizers in countries such as India and China, growing population and rising disposable income. Europe and North America are expected to experience steady growth, driven by the increasing use of ammonia in the healthcare and chemical industries and the focus on sustainable production methods.
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